05 October 2005
Correspondence from readers on topical subjects.
Commuted sums
Please do not forget to factor inheritance into the equations. A lump sum, if not spent, can be inherited by a dependant or other beneficiary. In some final salary schemes the pensioner's pension while alive is reduced, but there is no corresponding reduction to the dependant's pension on the pensioner's death. A lump sum is an annuity in reverse so expected life is important to the decision.
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